Former SBI Chief GM to liquidate Paytm Payments Bank Ltd.
The Delhi High Court appointed former State Bank of India Chief General Manager Girikumar M. Nair to liquidate Paytm Payments Bank Ltd. following the Reserve Bank of India's cancellation of its banking licence three months ago. This decision comes as the RBI sought to initiate the winding-up process for the bank, indicating significant regulatory challenges for Paytm. The liquidation process will empower the Official Liquidator to manage the bank's assets and liabilities.